Article Text
Oregon Concerns Suspend. PORTLAND, Ore., July 27.-The Oregon National and the Northwest Loan and Trust Company of this city, suspended this morning.
Oregon National Bank (Portland, OR)
Episode Information
- Episode UID
371901123- Episode Type
- Suspension → Run → Closure
- Bank Type
- national
- Bank ID
-
37190national - Charter Number
- 3719
- Start Date
- July 27, 1893
- Location
- Portland, Oregon (45.523, -122.676)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
12d224a30118f817
Response Measures
Full suspension, Books examined
Other: The bank suspended (closed) and was placed under national bank examiner control and ultimately into receivership; it later reopened after complying with the comptroller’s conditions.
Receivership Details
- Depositor recovery rate
- 50.0%
- Date receivership started
- 1893-12-12
- Date receivership terminated
- 1897-12-31
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 64.9%
- Share of assets assessed as doubtful
- 33.1%
- Share of assets assessed as worthless
- 2.0%
Description
Initial suspension occurred in July 1893 (panic); later withdrawals after reopening and indictment of officers precipitated examiner takeover and receivership.
Events (6)
1.
June 7, 1887
Chartered
- Source
- historical_nic
2.
July 27, 1893
Suspension
- Cause
- Macro News
- Cause Details
- Suspended during the July 1893 banking crisis/panic affecting Oregon banks (part of wider 1893 financial panic).
- Newspaper Excerpt
- The Oregon National and the Northwest Loan and Trust Company of this city, suspended this morning.
- Source
- newspapers
3.
September 9, 1893
Reopening
- Newspaper Excerpt
- The Oregon National Bank of Portland, Oreg. ... have to day been permitted to reopen their doors for business: ... the Oregon National Bank of Portland, Oreg.
- Source
- newspapers
4.
December 8, 1893
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Withdrawals driven by local agitation and the indictment of the bank's officers for failing to pay county funds, undermining confidence.
- Measures
- Requested bank examiner to take charge; bank closed to prevent further withdrawals.
- Newspaper Excerpt
- Owing to agitation during the past few days deposits made in the Oregon National bank since it resumed have been withdrawn to the amount of $125,000, and so President Markie... asked Bank Examiner Eldridge to take charge of the bank, which has been closed.
- Source
- newspapers
5.
December 12, 1893
Receivership
- Source
- historical_nic
6.
December 12, 1893
Receivership
- Newspaper Excerpt
- Comptroller Eckels says... the Oregon National bank at Portland, which the taxpayers have closed up because it was unable to return at once all the funds of the county... appointment as receiver of the Oregon National bank, of Portland, Or., does not leave a vacant examinership in that section, as is gether-
- Source
- newspapers
Newspaper Articles (20)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
The Oregon National Bank and the Northwest Loan and Trust Company of Portland, Ore., suspended yesterday mornIng.
Click image to open full size in new tab
Article Text
Portland, Ore., Has a Little Wrestle with the Financial Bugbear, PORTLAND, Ore., July 28.-The failures of the Oregon national and the Northeast Loan and Trust Co. Thursday were followed yesterday by a run on the Merchants' national and the suspension of the Union Banking Co. The former met every demand, paying dollar for dollar. This seemed to have a most quieting effect, and none of the other banks suffered any trouble at all. The Union is a small concern, and is thought to have been anxious for an opportunity to close for a long time because of its small business.
Click image to open full size in new tab
Article Text
Two Banks Resume. The following national banks, which re cently suspended payment, having fully complied with the conditions imposed by the controller of the currency, and their capital stock being unimpaired, have to day been permitted to reopen their doors for business: The First National Bank of Cheyenne, Wyo.: the Oregon National Bank of Portland, Oreg.
Click image to open full size in new tab
Article Text
A SIGN OF THE TIMES. Portland, Or., Sept. 8.-The Oregon National Bank which suspended last July, expects to resume business tomorrow.
Click image to open full size in new tab
Article Text
National Banks Resume. WASHINGTON Sept. 9.-The First National Bank of Cheyenne. Wy., and the Oregon National Bank or Portland. Or., which suspended recently. have to-day been permitted to reopen.
Click image to open full size in new tab
Article Text
Suspended Portland Bank Resumes. PORTLAND, Sept. 9.-The Oregon Naional bank, which suspended last July, eopened for business this morning.
Click image to open full size in new tab
Article Text
An Oregon Bank Resumes. PORTLAND, Or., Sept. 9.-The Oregon National bank, which suspended last July, resumed business today.
Click image to open full size in new tab
Article Text
Oregon National Will Resume. PORTLAND, Sept. 8.-The Oregon National bank, which suspended last July, expects to resume business tomorrow.
Click image to open full size in new tab
Article Text
Nood River Glacier. HOOD RIVER. OR. NOV. 18, 1893. ALL SATISFACTORY. The taxpayers of Portland recently began an investigation for the purpose of discovering what had become of the county money. Their report appended shows where some of it is at present tocated, and it also shows that some of Portland's banks are now running on the people's money: **** Mr. Malarkey was asked what funds belonging to the county he had on hand, and he said $4,000 in the general fund and $5,000 in the school fund. The question was asked Mr. Malarkey whether he had any county funds in any of the banks. He said not a dollar. He was asked if he did not have some money that could be turned into the school fund. He answered that there was no money other than the $4,000 or $5,000. *** Sheriff Kelley said that he had not been in the habit of making out the report that the committee demanded. We inquired the amount of funds he had on hand, and he went on at great length to explain how the funds got into their present predicament, and showed the receipts for moneys turned over to the treasurer. Of the funds which have not been turned over to the treasurer, Sheriff Kelly reports $168,527.24 in the Northwest Loan and Trust company's bank, $148,717.88 in the Oregon National bank and $2,000 in the Union Banking company, in all $319,644.12. He wasasked why these funds were not available, to which he replied he could not check against them as it would close the * * banks. He said that the banks had promised io raise $50,000 by Decembea 1st for the school fund. "Sheriff Kelly incidentally mentioned that one of the banks carrying county funds sent $40,000 of the county money to Ellensburg, Wash., to hold up from insolvency their branch bank there during the panic. "Upon a second visit to Mr. Malarkey it was learned that he had some funds in a local bank. Mr. Malarkey said they were state funds. We asked him if the state treasurer had receipted for the money. He said no, but that there was an understanding between Mr. Metschan, state treasurer, and Mr. Lowenberg of the Merchants National bank, and that everything was all satisfactory." The reading was interupted at this point by a unanimous roar from the assembly. The report concluded thus: "Mr. Malarkey was asked as to the amount of the state funds, and replied $121,000. He was asked if any arrangements had been made with the bank for the payment of 8 per cent interest that the county was paying on the warrants unredeemed because of the money in the bank. He said that question had not been raised. Then the committee ventured the remark that the people had already raised the question."
Click image to open full size in new tab
Article Text
SHERIFF INDICTED. Put His County's Money Where He Couldn't Get It. GON SMUGGLERS ARRAIGNED by Drink at Vanconver-A Lively Struggle for the liwaco Postmastership. PORTLAND, Dec. 8.-The grand jury of the state circuit court today returned indiciments against George B. Markle, prestdent of the Oregon National bank; D.F. Bherman, cashier, and Penumbra Kelly, sheriff of Multnomah county, for failure to my into the county treasury about $148,(Mof of county funds. Sheriff Kelly had the money on deposit in the Oregon National bank last July when it failed. The bank only remained closed one month, bet the sheriff could not draw the county money out immediately for fear of closing the bank again. The committee of one bundred have taken the matter in charge, and the indiciments are the result of their work. As a consequence of the indictment of the officers of the bank today that institution has been turned over to the national bank examiner pending the appointment of a receiver. The money deposited after the indictment was found was returned to the depositors. The bank will not resume business again and its affairs will be wound up by a receiver. Several taxpayers' meetings have been held recently and a committee was appointed to expert the county books. The closing of the bank seems to be the first direct result of their investigations. Owing to agitation during the past few days deposits made in the Oregon National bank since it resumed have been withdrawn to the amount of $125,000, and so President Markie, considering it useless to attempt to continue business, asked Bank Exsminer Eldridge to take charge of the bank, which has been closed.
Click image to open full size in new tab
Article Text
MAKES ECKELS SICK. The Way Democratic Warhorses Beg Receiverships. HINTS FOR MR. M'NAMARA. He Can't Run Fort Townsend Postoffice as He Pleases-Little Money for surveys. WASHINGTON City, Dec. 17.-[Special.]Comptroller Eckels says the affairs of national banks in Oregon and Washington have given him more trouble than all the other states in the Union. Whenever a bank has been obliged to close its doors immediately a flood of applications has poured in upon him by mail and by telegraph for the appointment as receiver. reminding one of the turkey boxzards that gather around the carcass of a dead cow. This is the case at the present time with the Oregon National bank at Portland, which the taxpayers have closed up because it was unable to return at once all the funds of the county which had been deposited there. The comptroller had soarcely received information of the closing of the bank when the telegrams asking an appointment as recaiver began to pour in. The letters and the usual indorsements are now coming. Mr. Eckels has no end of words of praise for the people of Seattle for the manner in which they have stood together and helped each other during the financial crisis. Strong efforts have been made to bring about the reopening of the Port Angeles National bank, and the matter has been under advisement by the comptroller far the past month. He has finally decided that it would not be for the best interests of the depositors to permit the bank to re-open. The Bellingham Bay National bank of Whatcom, which has been in the hands of an examiner. and the Citizens' National band of Spokane, which has been in the hands of receiver, will be permitted to reopen for a business within a short time. A special examination of the affairs of the latter bank has just been ordered.
Click image to open full size in new tab
Article Text
Bank Examiner Stagge's appointment as receiver of the Oregon National bank, of Portland, Or., does not leave a vacast examinership in that section, as is gether-
Click image to open full size in new tab
Article Text
HE IS AN EX-CONVICT. Lionel Stagge, the bank examiner and receiver of the Oregon national bank of Portland, appointed by Controller Eckels turns out to be an ex-convict of the Oregon penitentary, and the disclosure has kicked up a great sensation in the metropolis. Stagge was convicted and sentenced to the penitentiary under the name of A. L. Waterhouse for a year for passing fraudulent checks. Upon his release from the penitentary he sought and procured employement in Portlend under an assumed name. He proved himself a man of fiancial ability, and rose rapidly in the esteem of the commercial world. To make the romance complete he married a worthy young lady of Eugene, who it is said clings to him the closer since his position became known to her and the world. He has tendered his resignation as receiver of the Oregon national bank, but it is understood that his bondsmen will not desert him should Controller Eckles choose to retain him.
Click image to open full size in new tab
Article Text
Comptroller Eckles has finally determined to allow Lionel Stagge to retain his position as the receiver of the Oregon National bank of Portland.
Click image to open full size in new tab
Article Text
Comptroller Eckles has finally determined to allow Lionel Stagge to retain his position as the receiver of the Oregon National bank of Portland.
Click image to open full size in new tab
Article Text
WASHINGTON, April 7.-The comptroller of the currency has appointed William Catlin receiver of the Oregon National bank of Portland, vice Lionel Stagge, resigned.
Click image to open full size in new tab
Article Text
Stagge Retires. WASHINGTON, April 7. -The comptroller of the treasury has appointed William Catlin receiver of the Oregon National Bank of Portland, Or., vice Donel Stagge, resigned.
Click image to open full size in new tab
Article Text
Oregon National Bank Receiver. The controller of the currency has appointed William W. Catlin receiver of the Oregon National Bank of Portland, Oregon, vice Lionel Stagge, resigned.
Click image to open full size in new tab
Article Text
1894. SEATTLE, WASHINGTON, MONDAY, APRIL 16, believes he has found in Mr. Catlin, whom he has sent there as his successor. This, he tells Mr. Stagge, is the reason he ac. WOMEN REJOICE. cepts the resignation which Mr. Stagge . telegraphed to him three months ago, when the first publication of his earlier Unconditional Surrender of the life was made. Over Conviction of the Old Therei another reason which the compHouse Democrats. epresents the best troller may or may not have given in his Libertine, Breckinridge. letter to Mr. Stagge, but it is a very potent le leading importone. The people of Portland, and the bondsmen of Stagge, telegraphed to the PREPARING THE QUORUM RULE. facturers. We are NOT THROUGH WITH HIM YET. comptroller expressing all manner of confidence in Stagge, but did not ask that he for the celebrated be retained. Furthermore, in order to be sure that the man in whom they expressed The Jolly Republican Czar Expected ES. Social Purity Reformers Want Conso much confidence could not possibly get to Make a Fine Speech. away with any of their money. they fixed gress to Drive Him Out. it so that all the funds which he collected as receiver had to be deposited in the . Ainsworth National bank, whence it could In the Senate Numerous Tariff Speeches Other Moral Lepers Occupy High Places not be drawn by Receiver Stagge except Are Scheduled Morgan's by the joint signature of himself and one at the Capitol- Sister of Breckin. New Tariff Bill-Eckels' Contempt of his bondsmen. When Comptroller ridge's Dead Wife Sends Flowers to for Oregon Democrate Eckels first learned this he was somewhat foremost makes, Miss Follard's Attorney. inclined to be angry. "The receiver of a Worcester, national bank, he said at that time, "must be responsible to no one but to the P. Ladies will WASHINGTON CITY, April 15.-Thest comptroller. I can't have anything like WASHINGTON CITY, April Miss Madgle over the adoption of the new quorumthat, and won't, either. If the truth eline Pollard is the most talked- person kes to be perfect counting rule decided upon by the Demowere known, this is probably the most powin Washington City today. As might cratic caucus last Friday will be the erfal reason for the change. II give beauty and have been expected with a woman of her feature of the coming week in the house. When the POST-INTELLIGENCER antemperament, the long strain of the trial The details of the rule have not yet been rm and ease and nounced the appointment of Mr. Catlin, a culminated in nervous prostration. She formulated by the Democratic members of week ahead of any other paper in the wearer. was taken last night to Providence hospithe committee on rules, composed of country except two Chicago journals who tal, situated in a quiet part of Speaker Crisp and Mesars. Outhwaite and published it on the same morning, it creThe attending physicians do not anticiCatchings, but it will probably be ready to ated in the Oregon metropolis, pate any serious effects from her illness. submit to the full committee when it judging from the number of telegrams reDuring the trial several communications meets tomorrow morning. Inssmuch as ceived in the next two or three days. Mr. came to Miss Pollard and to her lawyers DS. about one-third of the Democrats are Stagge had begun to feel somewhat secure from managers of theaters and opera violently opposed to any quorum-counting in his place and made some efforts to hold companies, offering high salaries if she rule, it will be impossible for the it, while the disappointed Democrats in would appear in almost any capacity Democrats alone, should the Repubtifarious lines in Oregon began to howl in unison against under their auspices. Acting under the licans decline to vote and the Democratic this importation of foreign intellect when advice of her lawyers, she has paid no atopposition sustain their opinions to the nt are of exceedthey had so much going to waste there at tention to any of these communications extent of declining to vote to make a home. A friend of Mannie Myers. who Since the verdict was rendered yesterday quorum, to make such a vote. In other usefulness. has been very sore ever since T. J. Black afternoon the theatrical managers rewords, unless the Democrats should frame defeated him for the collectorship of cusdoubled their importunities, and several a rule satisfactory to the Republicans the telegrams have come to Miss Pollard offertoms, called on the comptroller to urge latter could, if they chose, prevent its that this appointment of a Chicago man ing astonishing sums to goon the stage adoption. The Republicans will, howwould disrupt the Democratic party in at once. Her friends decline to give the ever, surely acquiesce in the adoption of Oregon right in the face of the great elecnames of the theatrical managers or to any rule that contains the essential printion that was coming on, and that it must discuss the offers, saying that no ciple of counting as "present but not votnot be done. The comptroller, with some attention will be paid to any of ing" those members who decline to re&CO. asperity, told him that the office was not a them. An Associated Press reporter spond to their names. This is the parliapolitical one, and must not be considered who called at the hospital today and was mentary principle which Mr. Reed has informed that Miss Pollard was unable so in any sense. If that was the only way been contending for ever since the end of er Place. the Democratic party in Oregon could be to receive callers, sent to'her a notefinquirthe Fifty-first congress, and it is exing her plans for the future. The note saved he did not think it could hardly be pected that when the rule is presented worth saving. was answered in person by her brother. he will make one of the greatest After the appointment was made several Mr. John D. Pollard, who said: 'My speeches of his life. Owing to the prominent Democrats in Portland telesister has made no plans for the future, death of Senator Vance, the house and we cannot tell yet what she intends graphed to the comptroller. asking that Jos W. PHILLIPS, Secretary. will probably adjourn immediately tomorStagge be retained, but it came too late. to do. She asked me to say to you most row, and the fight over the new rules will 0,000. For Mr. Stagge's consolation, however, it emphatically that she never has enterbe postponed until Tuesday. It is probmay be stated that it would hardly have tained any intention of going on the able that little time will be allowed for ment Comp'y done any good for the comptroller has stage. Nothing could be further from her debate, and the chances are that when the intentions. It is absurd. All she asks since said that, leaving Mr. Stagge's house adjourns Tuesday evening the Financial Agents. Offers special character out of the question altogether, for now is rest and quiet. safe investment of capital. quorum-counting rule will have been had he known at the time of the bank's Judge Wilson's defense of the rights of adopted and filibustering of the kind failure of all the warring elements in Port. woman to an equal place with man in the which has characterized the proceedings land, he would have sent some Eastern professions was so appreciated by many of of the house for the past three years will man out there in the first place. the Washington City ladies that a party of be a thing of the past. soon as the them sent to him a magnificent bunch of new order of things has been established For Relief of Donation Claim Settlers. La France roses, which adorned his parlor in the house consideration of the approWASHINGUON CITY, April 15.-Special.] UCKETS today. They were accompanied by a note priation bills will be resumed and will con-Representative Herman's bill prescribstating that they were intended as sume the remainder of the week. ing limitations of time for completion of d Wood an Willowware just rean expression of appreciation for margins by us as groceries. title to certain lands disposed of under the The senate will adjourn soon after the his championship of the cause of hour of meeting tomorrow, out of respect donation act of 1850, intended to apply women in the professions. One for the memory of Senator Vance. With only to citizens of Oregon, which passed of the signers was Mrs. Dan Waugh. wife the house early in the session, came back COOPER & LEVY, the exception of the Chinese treaty. which of the Indiana congressman, and another Wholesale and Retail Grocers is to be considered on Tuesday. and the from the senate in the shape of an entirely was Miss Louise Lowell, the stenographer new bill, which applies also to donation routine morning business of each day, the who wrote Col. Breckinridge's letters land claimants in Washington and Idaho. remainder of the week promises nothing while he was the capitol. and another Wilson of Washington asked that be but a continuation of the tariff was Miss Mary Desha, sister of Col. debate. There IS little doubt referred to the committee on public lands Breckinridge's late wife. The tribute of D MANDOLINS the senate will accept the in order that ample time might be given Miss Desha is significant of the feeling of agreement reached between Senators Harfor an examination of its provisions and the relatives of the late Mrs. Breckinridge cturers' Agents. for a hearing upon them if necessary. ris and Aldrich, providing that general toward the colonel. debate on the tariff shall not be interWith the understanding, however, that D Stationery & Printing Co. Hardly had the verdict been rendered nt Street, the bill had merely been reconstructed in rupted by roll calls or other business. and when a meeting of prominent Washingshall continue each day from to5o'clock. order to make its phraseology more lawton City women was called. Representayer-like, the house agreed to the request of This will probably preclude all parliatives of several leading female organizathe senate for a conference upon its mentary contests and pave the way tions met and after an interesting conferfor a dozen or so tariff speeches. Senamendment, and the matter there rests for ence adopted resolutions calling upon the present. The bill as now constructed ator McLaurin will speak on Wednes30c congress to consider the qualificaday. and later in the week fixes December 31, 1895, as the last day on R tions of Representative Breckinridge Per Brick. which claimants under the donaSenators Turpie and Palmer and for membership in that body. tion act may perfect title. After possibly other Democratic senators will 111 South Second St. Among the organizations represented that date they shall be held speak. On tho Republican side Senators were the Woman's Suffrage Association to have abandoned their claims. Dolph. Morrill, Perkins, Higgins, Gallinand the Woman's Christian Temperance It is provided, however, that notices shall ger. Hoar. Cullom, Cameron and WashUnion. Mrs. Sarah La Fetra, of the latter be mailed to all such claimants who have burn will probably address the senate if organization, and Mrs. Ellen 8. Murphy, not perfected title by registers and retime permits. If there should at any time widow of the late Gen. Murphy. and who ceivers whenever addresses be learned, be any lack of speakers Senator Quay will is a practicing lawyer and prominent in and publication made in three newscontinue his speech, the delivery of which, the movement for the d vancement of OARDING. papers for four weeks, as soon as possible it is understood, will consume several women, were among the leading spectators after.the passage of the act. All donation days' time. of the meeting. The resolutions adopted claims held to be abandoned shall be remen Only. were: WHY MR. STAGGE WAS REMOVED. stored to the public domain January 1, *To the House of Representatives: We, Pettengill and the Democratic Heelers 1896, and be subject to disposal under representative women of Washington City, Had Nothing to Do with It. then existing laws. Heirs or assigns who aiming toward the establishment of a higher code of morals and against the WASHINGTON CITY, April 10.-[Special.] may have been in indisputed possession atrocious double standard which has for twenty years, however, and shall make S. B. Pettengill, of Tacoma, undoubtedly cursed society so long, declare that we do knows of W. W. Catlin, the newly apsuch proof at the land office, shall be ennot believe masculinity to be a license for titled to patents. Where an abandoned pointed receiver of the Oregon National uncleanliness, but holding the same high bank at Portland, but it does not follow. donation claim may have been settled standard for women which men hold, deB. Yesler as some people out in Washington and upon prior to January 1, 1894, under an mand that an equally high one shall be reOregon seem to think, in view of Mr. Peterroneous idea of right, and has been used quired of manhood; therefore, tengill's prompt indorsement of the new as bona fide residence, where final proof Resolved, That we must have chastity for chastity, under one rule of rights, appointee as "a good man,' that he had shall not be made by the original donation bearing as rigidly in its application upon claimant, and when the settler has exanything whatever to do with the ap. $1.00 Per Day. one sex as upon the other. From this pointment. hausted his homestead right, he may, standpoint we ask congress to consider Who is S. B. Pettengill, of Tacoma within ninety days after January 1, 1896. the case of W. C. P. Breckinridge, regard. $3 TO $5 WEEK. upon establishing these necessary facts. asked Comptroller Eckels a few days be. ing his conduct as unbecoming a legislator. Be it further purchase 160 acres of the land at $1.25 an fore he decided to appoint Mr. Catlin. Cable Car to Building. acre. As in other contested cases, hearResolved. That we, daughters. wives When told he replied "Well, he is the and mothers of the commonwealth, exings may be had before the land commisonly man in Washington or Oregon, in press a belief that types ot the highest sioners, contestants paying the costs. In the weeks that have elapsed since Lionel manhood are to be found in congress; Stagge's past life became known to the view of the probable passage of this act, it therefore we ask. in full confidence, that will be well for those holding lands under public, who has written to me demanding the house of representatives shall join in old donation claims to look up their titles Mr. Stagge's removal from the office to the sentiments held by us and take some CO., INC. definite action to insure the high characand see if they are perfect. which I had appointed him. He said he Dealers in ter of our country's administration and used to live in Portland and was thorA New Nicaragus Canal Bill. help the future national counsellors to oughly conversant with the political situpresent a clean and unchallenged body of WASHINGTON CITY, April 15.-Senator ation there and that it would be a great legislators. Morgan, chairman of the senate commitblow to the Democratic party if this 'con-